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The following table lists the number of home improvement loans approved by a finance company, along with the loan interest rate. Click the icon to
The following table lists the number of home improvement loans approved by a finance company, along with the loan interest rate. Click the icon to view the data table. a. Develop a regression forecast model using the interest rate (in \%) as the predictor (i.e., independent) variable. The regression model is Number of loans =+11 Interest rate. (Enter your responses rounded to two decimal places and include a minus sign if necessary.) b. If the interest rate is 11%, the bank should expect to make loans. (Enter your response rounded to the nearest whole number.) If the interest rate is 4.5%, the bank should expect to make loans. (Enter your response rounded to the nearest whole number.) The following table lists the number of home improvement loans approved by a finance company, along with the loan interest rate. Click the icon to view the data table. a. Develop a regression forecast model using the interest rate (in \%) as the predictor (i.e., independent) variable. The regression model is Number of loans =+11 Interest rate. (Enter your responses rounded to two decimal places and include a minus sign if necessary.) b. If the interest rate is 11%, the bank should expect to make loans. (Enter your response rounded to the nearest whole number.) If the interest rate is 4.5%, the bank should expect to make loans. (Enter your response rounded to the nearest whole number.)
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